TIDMRAT 
 
 
   Rathbone Brothers Plc ("Rathbones") announces that late on 23 July 2014 
it entered into a conditional agreement to contribute to a settlement of 
legal proceedings in Jersey involving a former director and employee of 
a former subsidiary Rathbone Trust Company Jersey Limited and others, 
and to settle associated legal proceedings against certain of Rathbones' 
civil liability (professional indemnity) insurers (where the case has 
recently been heard in the English Court of Appeal, but judgment not yet 
handed down). 
 
   Both sets of proceedings have been reported on by Rathbones previously 
in its Report and Accounts 2013 (see Note 1 below) and in its half 
yearly financial report published today. 
 
   The terms of settlement are confidential and conditional upon various 
matters, including receipt of Court approval in Jersey. Rathbones 
confirms however that, upon the settlement becoming unconditional, it 
will contribute GBP15 million as its share of the settlement, and 
expects to report this amount as an exceptional cost in its full year 
results for the year ending 31 December 2014. The settlement is expected 
to become unconditional before the end of October 2014.  A further 
announcement will be made once the settlement has taken place. 
 
   Commenting on the settlement, Philip Howell, Chief Executive of 
Rathbones, said: 
 
   "We are pleased to have closed off this long-running matter and to have 
removed this uncertainty from our business. Whilst we believe that the 
underlying Jersey claim would eventually prove unsuccessful and that 
effective insurance cover would be confirmed following the recent Appeal 
Court hearing, we have been mindful that litigation is never without 
risk and that we could face several more years of very substantial legal 
expense, having already incurred legal costs of approximately GBP5 
million. We have therefore concluded that joining a settlement would be 
in the best commercial interests of the company, allowing our senior 
management team to apply its full focus to executing our strategic 
plans." 
 
   For further information contact: 
 
 
 
 
Rathbone Brothers Plc            Quill PR 
Tel: 020 7399 0000               Tel: 020 7466 5054 
 
Philip Howell, Chief Executive   Hugo Mortimer-Harvey 
Paul Stockton, Finance Director 
 
 
   Note 1:  Rathbones' legal proceedings against certain of its insurers, 
and the underlying trust proceedings in Jersey, were referred to in the 
chairman's statement and note 32 of Rathbones' Report and Accounts 2013. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Rathbone Brothers PLC via Globenewswire 
 
   HUG#1836001 
 
 
  http://www.rathbones.com/
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